The industry of the life sciences is growing exponentially throughout the United States, including Massachusetts, with biotechnology and medical technology especially taking off. This phenomenon is taking place because pharmaceutical companies are joining with incubator labs and startups in an effort to drive brand-new research/development. With this rise in life science innovation comes rising demand for commercial real estate that can accommodate such activities.
In the four years leading up to September of 2017, biotech research employment rose more than 27 percent. That is much higher than the 7 percent rise in employment overall during this same period. In addition, venture capital totaling $66 billion was poured into bioscience companies between 2014 and 2017.
For this reason, industry experts say that real estate has become a major component of collaborative research/development environments. In fact, large real estate properties have been pursued in Boston as well as other areas of the United States. The reason for this is that life science activities require large amounts of square footage that can be used for device manufacturing, office workers and laboratories.
In light of the demand for commercial real estate for life science purposes, now may be an excellent time to purchase sizable properties that can be sold for a profit down the road. Of course, figuring out how to go about a purchase can be confusing, particularly for those who have never purchased commercial properties before. Fortunately, an attorney in Massachusetts can provide real estate investors with the direction they need to seal the deal in the most personally advantageous manner possible.